SWOT analysis - strengths, weaknesses, opportunities and risks

For the implementation of strategic planning for any business - whether online or offline - it helps to have a complete financial analysis that takes into account not only of themselves, but the competitors' activities and events in your course and the industry. The SWOT analysis is one such.

Completing a SWOT analysis helps you ways to minimize the impact on the vulnerabilities in your business while maximizing your strengths. Ideally, you are your strengths against market opportunities of the gameresulting from gaps in competitors 'products' and / or services.

Traditionally, a SWOT strengths and weaknesses relative limits of the inner workings of your company, while the opportunities and threats only to the external environment. Here I propose a rotation of an "textbook." To consider a better look at the context, both internal and * external forces when they discover the opportunities and risks.

The basic SWOT analysis

They develop the basic analysis in aBrainstorming with members of your company or you, if you are a one-person shop. At the beginning of the analysis, a grid of four cells or four lists, one for each component:

Strengths | | Weaknesses | Opportunities | Threats |

Then start compiling lists.

Strengths. Think about what is good for your business. Some questions that you are about to begin: what to do yourself from the competition? What are the advantages over otherCompany?

Weaknesses. People of the areas that are a struggle for your company. Some questions that you are about to begin: What do your customers complain? What are the unmet needs of your sales?

Opportunities. Traditionally, a SWOT looks only to the external environment for opportunities. I suggest you look externally for areas your competitors do not cover completely, then take a step back and think about how this game to your internal strengths.

TestThe areas where you reveal the strengths are not fully exploited. There are new trends that fit with the strengths of your company? There is an area of product / service, the other is not yet covered?

Threats. What opportunities and threats in a traditional SWOT analysis is considered an external force a. With an eye both inside and outside your company for things that might damage the business, but you can better see the location, the overall picture.

Some questions to getE 'start: competitors are getting stronger? There are new trends that reinforces one of your weaknesses? See other external threats to the success of your business? Internally, you have financial development, or other problems?

Expanded SWOT Analysis

You can go one step further than a traditional "text book" SWOT analysis of industry trends further. A more in-depth SWOT analysis can help you better understand your business in competitionSituation.

One way is through a SWOT analysis phase is to include detailed information on competitors in the analysis. Note: Internet activities such as participation Trade Organization, the inclusion of the search engine and links to external pages. This will help you better opportunities and threats for your business.

You can also take a closer look at the business environment. Often, opportunities arise as a result of a changing environment. SomeSome examples are:

A new trend develops for which demand exceeds the supply of high quality solutions. At first, the tendency has produced a healthy diet, with an emphasis on delicious food coupled with a shortage of acceptable natural food alternatives, for example.

A customer segment is becoming increasingly popular, but their specific needs are not fully met by competitors. The U.S. Hispanic population experienced this phenomenon in late 1990 and early 2000.

A customer whoCompetitor or supplier goes out of business or with another company. By the end of many pure-play "dot com", full of examples. As each went out of business opportunities arise for business customers deceased.

You can also reach a SWOT analysis through surveys. You can learn more about the sites and their competitors and business. to examine areas of research include: 1) the levels of customer care, interest, trial and usage, 2) brandLocation and / or corporate image, 3) the importance of different site or product attributes to your customers and 4) the product and / or site performance.

If a simple or advanced approach to SWOT analysis, you are sure to come with new insights. Use this for your company to increasing the effectiveness and as an input for your business or marketing plan.

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